Conference Report: Panel Discusses Making Hotel Revenue More Efficient
For hotels looking to get the most of their data, Duetto’s Managing Director Michael McCartan suggests the key is a future-focused perspective that gives time to both predictive and historical data sets. Predictive analytics are the best means of transitioning from a Best Available Rate (BAR) pricing approach to the ideal Open Pricing policy. This more focused approach makes pricing more detailed and more dynamic.
SnapShot’s David Turnbull emphasizes the need for a simplified process for acquiring and developing new hotel technologies such as downloadable apps. Proper tech can minimize a guest’s friction points including check-in and a long booking process during their time at the hotel, freeing staff up to focus on providing the best possible experience.
The panelists recommend looking to innovations in other industries, especially for ways to harness predictive analytics and streamline workflow. Revenue managers must offload their analysis time to concentrate on strategic decision-making and pricing optimization.
Legal Battles and Uncertainty Surrounding Affordable Care Act’s Preventative Services Coverage
The Affordable Care Act (ACA) has faced numerous legal challenges since its inception, leaving its future uncertain. Texas’s courts recently overturned insurance provider coverage requirements for certain preventative health services, altering the landscape of coverage. However, a higher court has now blocked that overturning order, reinstating insurers’ obligation to cover those services. While not all […]
Reimagining Retail with IKEA Digital Transformation & New Store Formats
In the swiftly evolving retail industry, the conversation around digital transformation and retail technologies is more urgent than ever. Amid this tech-driven revolution, IKEA is pioneering a remarkable journey. The stakes are high, as IKEA aims to shift from being primarily a physical retailer to incorporating a substantial omni-channel presence. As of 2016 only […]
How to Create a Proper Work-Life Balance While Maintaining Strong Work Relationships
In a world where the average American spends over one-third of their life at work, it’s essential to maintain a high quality in workplace relationships. Today’s fast-paced environment necessitates strong, resilient connections that can withstand the pressures of rapidly evolving technology, constant deadlines, and high-stake projects. Research indicates that maintaining strong workplace relationships leads […]